Latest news with #restructure
Reuters
3 days ago
- Business
- Reuters
RBNZ restructures leadership team, to consult on organisational overhaul
June 5 (Reuters) - The New Zealand central bank said on Thursday it would consult staff on organisational changes later this month after restructuring its leadership team to streamline operations. The Reserve Bank of New Zealand is facing a 25% cut to its budget in the coming fiscal year. The bank said in a statement its leadership team structure would shift on June 16 to 20 director-level roles grouped under four areas: financial stability, money, enterprise services and operations. RBNZ said the restructure would make the bank 'more efficient, more focused, and more agile', aligning with a four-member executive leadership structure introduced last month. "This is a critical time for Te Putea Matua (RBNZ), and the changes we're making are more than just structural," said RBNZ Governor Christian Hawkesby. "We want to ensure that we're match-fit for the changing environment and context we're operating in." The bank also appointed Kate Le Quesne as assistant governor for enterprise services, filling the final position on its new executive team. The central bank said it would consult with staff about potential organisational changes later in the month, without giving any details. Finance Minister Nicola Willis announced in April that RBNZ's operating budget would be cut by roughly 25% in the coming fiscal year and be set at NZ$150 million ($90 million) for each of the next five years. RBNZ has grown its workforce to 660 employees, an increase of more than 2-1/2 times from 255 in 2018. ($1 = 1.6592 New Zealand dollars)
Reuters
07-05-2025
- Business
- Reuters
South Africa's Absa Group Chair Sello Moloko to step down in July
JOHANNESBURG, May 7 (Reuters) - South Africa's Absa Group (ABGJ.J), opens new tab announced on Wednesday that Sello Moloko will step down as chairman of the bank on July 15 to make way for new leadership, and René van Wyk will succeed him, subject to regulatory approval. Moloko said he had decided to quit after the board "dealt with several challenges in 2024", appointed a new chief executive and launched a restructure of Absa's retail model. here. "I feel the time is ripe now for me to refocus my attention on my family, my community commitments and the several personal business initiatives outside the Group that I need to drive," he added. Van Wyk was interim group Chief Executive Officer in 2019 and rejoined the Absa board as a non-executive director in 2020. "The organisation is well-positioned to advance its strategic priorities, and I look forward to contributing to its growth and success, alongside a strong management team," Van Wyk said. (This story has been refiled to correct the day of the week from Tuesday to Wednesday, in paragraph 1)
Bloomberg
06-05-2025
- Business
- Bloomberg
UBS Cuts France Jobs Amid Credit Suisse Integration
UBS Group AG is cutting jobs in France as part of a plan to restructure some of its business activities in the country following the integration of Credit Suisse. The number of staff made redundant will be below 50 and the bank will provide support to the affected employees, a spokesperson for UBS told Bloomberg in response to questions. France continues to be a strategic growth market, the spokesperson said.
